Credit Card News
Credit card crunch continues
Consumers looking to fund their Christmas with their credit card are going to find the cost of borrowing has increased significantly, despite dramatic base rate cuts in the last few months, according to moneyfacts.co.uk.
Trouble in store for borrowers
Rates on store cards have climbed by one per cent in the past six months with the most expensive now charging more than 30 per cent to borrowers, according to research from MoneyExpert.com.
Capital One move away from offering long-term 0% deals
Commenting on Capital One's shock move away from offering long-term zero per cent purchases and balance transfers, Peter Harrison, credit card expert at moneysupermarket.com, said:
Newcastle takes International Prepaid Cards Award accolade
Newcastle Building Society has beaten off strong competition from a range of household names to be named as the leading organisation in the international prepaid cards market.
MoneyExpert: Abbey’s new “essentials” credit card
Sean Gardner of MoneyExpert.com said: "Abbey continue to offer something a little different with their credit card business. First we had the Zero card which came with no fees and now we have a card aimed at helping us to meet the cost of essentials by way of cashback on petrol and groceries.
Abbey launches credit card to help with the essentials
Abbey has announced the launch of a new credit card aimed at helping consumers whose finances are being squeezed by the increasing cost of living and the credit crunch.
School leavers need to get back to plastic basics
Andrew Hagger of Moneynet.co.uk looks at how the use of credit cards has changed and how it shows a very real need for mandatory personal finance education.
MoneyExpert.com: Which? credit card customer service report
Sean Gardner of MoneyExpert.com said: "Assessing customer service is pretty pointless unless you weigh up its importance against things like price and value for money.
Cuts to interest-free period by credit card providers
Paul Green, Head of Communications, Saga Group Ltd, commenting on research by uSwitch.com that some credit card providers are to shorten the interest-free period offered on their credit cards, said:
A bus ride down Penny Lane - the faster route to a cashless future
Liverpool is expected to become the UK's next city for time-saving and secure contactless payments, after MasterCard, The Royal Bank of Scotland (RBS) and Stagecoach today announced a one year trial of MasterCard PayPassTM and Maestro PayPassTM on around 200 buses in Merseyside.
Consumers fleeced for up to £1 billion on credit cards
Tweaking credit card terms and conditions has generated up to £1 billion for the credit card industry over the last year, according to market analysis by uSwitch.com.
Debit card paying Brits lose out on cashback millions
The majority of Brits (92%) have been affected by increasing living costs, with a third of UK households paying out between £600-£1,200 more than last year on everyday spending, according to research by American Express Platinum Cashback Credit Card.
Brits rack up interest bill withdrawing cash on credit cards
Over 7 million consumers currently make over 38 million cash withdrawals using a credit card every year, with major providers charging up to 32% APR for this feature - almost double the average purchase APR (17.2%), according to research from uSwitch.com.
Be Card Smart Online
APACS, the UK payments association, has announced the launch of a new advertising campaign called Be Card Smart Online, which is backed by the UK's banking and retail industries and the international card schemes, Visa and MasterCard.
HBOS cuts minimum repayments by 50%
Amidst the current financial uncertainty, it seems the HBOS group is offering a lifeline to struggling credit card customers.